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Jack Dorsey’s Square Wins Patent for Fiat-to-Crypto Payments Network
Summary: A patent allowing users holding different asset types to transact with each other was granted Tuesday by the U.S. Patent and Trademark Office, according to CoinDesk. This new system could be to the advantage for the retail sector because many cryptocurrencies are too volatile and slow to be an effective payment solution. With automatic exchange ...
A patent allowing users holding different asset types to transact with each other was granted Tuesday by the U.S. Patent and Trademark Office, according to CoinDesk. This new system could be to the advantage for the retail sector because many cryptocurrencies are too volatile and slow to be an effective payment solution.
With automatic exchange and real-time settlement, this system could remove barriers and consumers could pay in their preferred asset in anonymity. Jack Dorsey believes BTC could become the native currency for the internet. When inquired about the added support for other digital coins, the head of the cryptocurrency team said they would remain focused on Bitcoin and would continue supporting its mass adoption and network development.
By Claudia Rivera
Tags: Bitcoin,Cryptcurrency,Jack Dorsey,Volatile
Link: Jack Dorsey’s Square Wins Patent for Fiat-to-Crypto Payments Network [Copy]
